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Market Movers in the Automotive Industry

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Franchise Holdings International Inc., (OTC: FNHI), Worksport Ltd.’s parent company, is expecting a good year ahead, since its current, already beyond progressive business activities will be additionally magnified due to cooperation with Amazon.com  Inc. (NASDAQ: AMZN). FNHI announced on February 12th that it is adding a new distribution channel for its tonneau covers for light trucks by accessing Amazon’s wide marketplace. Worksport and FNHI CEO, Steve Rossi, said they are incredibly proud and excited about the agreement, which is expected to be finalized in the coming weeks.

Amazon.com, a $282 billion revenue company, will additionally open up the U.S. market for Worksport, which is offering innovative, high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks such as Ford Motors’ (NYSE:F) F150, Sierra, Chevrolet’s (NYSE:GM) Silverado and Fiat Chrysler’s (NYSE:FCAU) RAM.

The potential of light trucks

In 2019 alone, light vehicles (cars and light trucks) sales came to approximately 17 million units, out of which 12.2 million were light trucks. Within top five best selling light trucks, Toyota Motor Company’s Tacoma (NYSE:TM) made it in 4th place, while the other four models were American made. The Ford F-Series was the best-selling light truck in the US, with almost 900 thousand units. Second place belongs to Chrysler Ram Pickup, and third place to Chevrolet Silverado.

Ford Motor Company holds the pickup truck throne

When choosing a pick-up truck, Ford F-Series is impossible to exclude due to years and years of being one of best selling light trucks. Most popular variant of the Ford F-Series (full-size pickup trucks) is the F-150. 14th generation of model F-150 is expected to be released in 2020.

Ford Motor Company is following the current ruling (on an interim basis) by U.S. trade panel, in favor of Korean electric vehicle (EV) battery maker LG Chem, which accused its rival SK Innovation of misappropriating trade secrets. SK Innovation is currently building a $1.7 billion battery factory in Georgia, whose products are supposed to serve Volkswagen (OTC:VWAGY)’s EV factory. SK Innovations is also considering to build another factory in Georgia, to supply Ford’s electric light trucks. The panel ruling may endanger SK Innovation’s import of materials and components needed as supply for U.S. factories. And FNHI’s solar patented technology can only further advance any company in the EV playground.

Amazon

Amazon’s expected revenue of $282 billion in 2019 came from 608 million packages (year average), which is equivalent to more than 1.6 million packages a day. This expected result is an increase comparing to 2018, when Amazon achieved $233 billion in revenues and net income of $10.1 billion. That is an expected increase of revenues of approx. 21%. And FNHI surely rejoices in the fact that Amazon is doing better than expected while its one-day deliveries continue to drive up sales.

Positive effects 

Steve Rossi believes selling products on Amazon will help Worksport’s revenue growth and also brand recognition. Positive effects are expected in the coming period of 12 to 24 months. Rossi also stated that Worksport will have the right to set the Minimum Advertised Pricing (MAP) and monitor the price once the agreement is signed. Worksport is already in process of stocking materially different cover models, which will be unique to Amazon, and therefore keeping the current dealers and distributors covered. This way, Worksport will protect both its present and new distribution channels. This will be another leap forward for Worksport, continuing the good trend from 2019, when three new U.S. patents were granted, which formed a great base for future developments. The expansion of Worksport’s, that is FNHI’s, intellectual properties portfolio, will enable the Company to bring more than just sun-powered light-truck tonneau covers, making it indeed a rare gem in the light truck industry.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

FbMagazine

Solar Energy Is on Track To Become the New Energy King

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Solar Stocks and Corona Virus

When COVID-19 started its relentless march across the globe in March, there was some concern that it would put the solar industry to a halt. This fear was derived from the fact that residential solar sales are usually sold door-to-door as well as plant closures and increasing pandemic-related costs. But this scenario did not play out. In fact, the construction industry has been booming this year.

Innovation

The pandemic has also brought about some innovations that were a long time coming for solar energy. Residential solar companies were forced to adapt their sales to a digital framework. SunPower (NASDAQ:SPWR) is one of the leaders in this digital-first approach, but Tesla (NASDAQ:TSLA) has also caught this wave. Moreover, when it reported its earnings last week, the company revealed it is aiming for its solar business to be just as strong as its main star, the EV business. Elon Musk announced that Tesla’s next ‘killer product’ is its Solar Roof, and that everyone will see why next year. But even Sunrun (NASDAQ:RUN) is adapting to a new normal with fewer physical touchpoints so competition will be intense.

Solar + EVs

Worksport (OTC: WKSP) is writing a new chapter within the solar book as it has integrated this technology within its tonneau covers for pickup trucks. It has engaged Thermal Technology Services Canada, to test the Company’s groundbreaking TerraVis™ solar panel technology and increase its efficiency. This is a very significant high-growth time for Worksport as it has a bright outlook and revenue model after forming a partnership with Atlis Motor Vehicles. Under the agreement, TerraVis™ will be integrated within the highly technologically advanced Atlis XT electric pickup truck. Increases in product efficiency of even a few per cent can make all the difference when it comes to the performance of an electric vehicle. Each additional mile counts but Worksport is set to deliver the most advanced product with solar technology, bringing upcoming EVs to even greater heights.

Improved profitability

At the end of the day, the reason solar stocks are up this year is the improved financial performance. Canadian Solar (NASDAQ:CSIQ), JinkoSolar (NYSE:JKS), SolarEdge (NASDAQ:SEDG), and Enphase Energy (NASDAQ:ENPH), four of the biggest equipment suppliers in the industry have remained strong during the pandemic, with some companies also seeing margins increase.

But this piece of good news is a result of the industry focusing more on specializing rather than vertically integrating. For example, SunPower has spun off its development business, inverter manufacturing, and its solar manufacturing arm which led it to better financial results and better margins almost across the board.

Politics

Considering that Joe Biden has taken a clear polling lead over Donald Trump, the boost of solar stocks is not a surprise. Biden’s strategy is much more focused on clean energy than Trump’s, despite not being supportive of the “Green New Deal”.  The overall perception is that Biden will be good for the industry.

Affordability

Solar power is already the cheapest source of electricity in some parts of the world, according to a new report released on October 13th  by the International Energy Agency (IEA). This was greatly enabled by governmental policies in more than 130 countries that aim to encourage the rise of renewables by reducing the cost of building new solar installations.

Outlook

As solar technology continues to improve and innovation continues to drive those costs down, solar is on track to become “the new king of electricity supply”. With global efforts to put climate change under control, the solar industry is expected to dominate over the next decade . The EU alone has set a goal to source 32 percent of its energy from renewables by 2030, therefore, the forecast for solar is sunny.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Plugging Into the Future

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Tesla Electric Vehicles

BNEF predicts that by 2040 EV sales will rise to nearly 60% of the global auto market. That is quite a difference compared to 2010, when annual sales were close to zero. With consumer becoming more aware and conscious, along with favorable market forces that are gaining momentum, EVs are quickly becoming the future of the automotive industry with many EV companies showing massive growth potential.

e-tractors

Ideanomics (NASDAQ: IDEX). has acquired 15% of California-based Solectrac, Inc. for $1.3 million, its very first US-based OEM, Solectrac develops, assembles and distributes 100% battery-powered electric tractors for agriculture and utility operations. With this investment in Solectrac, Ideanomics expands its global footprint in the EV industry through specialty commercial vehicles. Moreover, Ideanomics gained a seat on Solectrac’s Board of Directors. This opportunity will give Ideanmoics access to the global agricultural tractor market that is poised for rapid growth, although currently valued at $75 billion. The time has come to say goodbye to diesel tractors.

Solar powered EVs

Besides recently forming an agreement with Atlis Motor Vehicles, Worksport (OTC: WKSP) has announced today to engage Thermal Technology Services Canada to test the Company’s groundbreaking TerraVis™ solar panel technology and increase its efficiency. Increases in product efficiency of even a few per cent can make all the difference when it comes to the performance of an electric vehicle. Each additional mile counts and Worksport is set to deliver the most advanced product with solar technology, from which the technologically advanced and eagerly-anticipated for Atlis XT electric pickup truck can greatly benefit.

Traditional automakers are not wasting any time

General Motors (NYSE: GM) revived the Hummer for the 2022 GMC Hummer EV, a fully electric truck that is expected to arrive in dealership next year. Last week, GM unveiled its “Factory Zero” as it gave a new life to its Detroit-Hamtramck assembly plant. The new GMC Hummer EV electric truck will be built in this all-electric factory, accompanied by the Cruise Origin, a self-driving EV designed by GM and Honda (NYSE: HMC). Last month, Ford (NYSE: F) also announced plans for a new factory at its large Rouge site in Dearborn, Michigan, that will build it’s the all-electric version of its legendary F-150 pickups.

New entrants are upping their game

Northeast Ohio-based Lordstown Motors (NASDAQ: RIDE), which purchased GM’s former Lordstown Assembly Complex and DiamondPeak Holdings Corp. (NASDAQ: DHPC), a special purpose acquisition company, completed a merger that makes the EV startup a publicly traded company, effective Monday. The deal gives Lordstown the financing it needs to start production of its electric Endurance truck. It aims to deliver its truck by next September, the same time Rivian Automotive Inc., Tesla Inc.(NASDAQ: TSLA) and General Motors Co. plan to launch their own electric truck candidates.

Outlook

On Thursday, during the last presidential debate, former Vice President Joe Biden pledged to shift the U.S. economy away from oil. This goal is impossible to reach without a wider EV adoption as road transport accounted for almost 70% of America’s oil consumption in 2019. Therefore, market forces and green government policies can only accelerate the EV revolution, both in the United States and around the world, with Europe already being well on that path. A cleaner tomorrow where we will no longer have to choose between performance, economy and environmental sustainability is well underway.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

Continue Reading

BenzingaEditorial

Solar Energy Is on Track To Become the New Energy King

Published

on

Solar Stocks and Corona Virus

When COVID-19 started its relentless march across the globe in March, there was some concern that it would put the solar industry to a halt. This fear was derived from the fact that residential solar sales are usually sold door-to-door as well as plant closures and increasing pandemic-related costs. But this scenario did not play out. In fact, the construction industry has been booming this year.

Innovation

The pandemic has also brought about some innovations that were a long time coming for solar energy. Residential solar companies were forced to adapt their sales to a digital framework. SunPower (NASDAQ:SPWR) is one of the leaders in this digital-first approach, but Tesla (NASDAQ:TSLA) has also caught this wave. Moreover, when it reported its earnings last week, the company revealed it is aiming for its solar business to be just as strong as its main star, the EV business. Elon Musk announced that Tesla’s next ‘killer product’ is its Solar Roof, and that everyone will see why next year. But even Sunrun (NASDAQ:RUN) is adapting to a new normal with fewer physical touchpoints so competition will be intense.

Improved profitability

At the end of the day, the reason solar stocks are up this year is the improved financial performance. Canadian Solar (NASDAQ:CSIQ), JinkoSolar (NYSE:JKS), SolarEdge (NASDAQ:SEDG), and Enphase Energy (NASDAQ:ENPH), four of the biggest equipment suppliers in the industry have remained strong during the pandemic, with some companies also seeing margins increase.

But this piece of good news is a result of the industry focusing more on specializing rather than vertically integrating. For example, SunPower has spun off its development business, inverter manufacturing, and its solar manufacturing arm which led it to better financial results and better margins almost across the board.

Politics

Considering that Joe Biden has taken a clear polling lead over Donald Trump, the boost of solar stocks is not a surprise. Biden’s strategy is much more focused on clean energy than Trump’s, despite not being supportive of the “Green New Deal”.  The overall perception is that Biden will be good for the industry.

Affordability

Solar power is already the cheapest source of electricity in some parts of the world, according to a new report released on October 13th by the International Energy Agency (IEA). This was greatly enabled by governmental policies in more than 130 countries that aim to encourage the rise of renewables by reducing the cost of building new solar installations.

Outlook

As solar technology continues to improve and innovation continues to drive those costs down, solar is on track to become “the new king of electricity supply”. With global efforts to put climate change under control, the solar industry is expected to dominate over the next decade. The EU alone has set a goal to source 32 percent of its energy from renewables by 2030, therefore, the forecast for solar is sunny.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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